Chendong Recycling maintains ferronickel production equipment
2023-03-01 11:57:07 [Print]
BEIJING (Asian Metal) 1 Mar 23 – Inner Mongolia Chendong Recycling Technology Co., Ltd. is one of major ferronickel producers in northern China, halted production of one of its furnaces for maintenance since early February, and expected to produce about 4,000 tons in the month.
"We stopped production for maintenance of one furnace in early February, and expected to complete maintenance in mid-March. We only produced about 4,000 tons of high-grade ferronickel in February, down from around 5,000 tons in January," a source from the company said, adding that their production in March is expected to recover to about 5,000 tons.
With an annual production capacity of 130,000t and three sets of production equipment, the company produced about 79,000t in 2022, holding no ferronickel stocks for the moment.
On Tuesday, mainstream prices for high-grade ferronickel 10%min were RMB1,330-1,340/mtu (USD192-193/mtu), down by RMB10/mtu (USD1.4/mtu) from Monday. Given softening demand in ferronickel market this week and consumers' low willingness to replenish inventory, it is predicted that prices for Chinese high-grade ferronickel 10%min would stay weak in following week
"We stopped production for maintenance of one furnace in early February, and expected to complete maintenance in mid-March. We only produced about 4,000 tons of high-grade ferronickel in February, down from around 5,000 tons in January," a source from the company said, adding that their production in March is expected to recover to about 5,000 tons.
With an annual production capacity of 130,000t and three sets of production equipment, the company produced about 79,000t in 2022, holding no ferronickel stocks for the moment.
On Tuesday, mainstream prices for high-grade ferronickel 10%min were RMB1,330-1,340/mtu (USD192-193/mtu), down by RMB10/mtu (USD1.4/mtu) from Monday. Given softening demand in ferronickel market this week and consumers' low willingness to replenish inventory, it is predicted that prices for Chinese high-grade ferronickel 10%min would stay weak in following week
